A Game of StrategyPretend that a Las Vegas gambler has developed a new strategy at blackjack. In order to test his newstrategy, he plays fifty games. He is interested in p, the probability of winning a game while using hisnew strategy, proportion of games that are wins in a population of blackjack games. (He does notknow that under his new strategy, the probability of winning a game is p = 0.52). What is thegambler's 95% confidence interval for p?1. First we need to simulate the 50 games the gambler is playing. Use randBin( on your calculator.Type randBin(50, .52) in your calculator, which will give you the number of wins for the 50 games.How many wins are there?2. Construct a 95% confidence interval for the 50 games played by the gambler.3. Did the gambler's 95% confidence interval capture p= 0.52?4. The gambler wants to know whether or not the probability of winning with his new strategy is 0.50.What would you tell him? State your answer in complete sentences.

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Description: A Game of StrategyPretend that a Las Vegas gambler has developed a new strategy at blackjack. In order to test his newstrategy, he plays fifty games. He is interested in p, the probability of winning a game while using hisnew strategy, proportion of

Given that A gambler has developed a new strategy in order to test the gambler plays 50 games n=…

Answered: 4. The gambler wants to know whether or…

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4. The gambler wants to know whether or not the probability of winning with his new strategy is 0.50. What would you tell him? State your answer in complete sentences.

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Concept explainers

Contingency Table

A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.

Binomial Distribution

Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.

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A Game of Strategy
Pretend that a Las Vegas gambler has developed a new strategy at blackjack. In order to test his new
strategy, he plays fifty games. He is interested in p, the probability of winning a game while using his
new strategy, proportion of games that are wins in a population of blackjack games. (He does not
know that under his new strategy, the probability of winning a game is p = 0.52). What is the
gambler's 95% confidence interval for p?
1. First we need to simulate the 50 games the gambler is playing. Use randBin( on your calculator.
Type randBin(50, .52) in your calculator, which will give you the number of wins for the 50 games.
How many wins are there?
2. Construct a 95% confidence interval for the 50 games played by the gambler.
3. Did the gambler's 95% confidence interval capture p= 0.52?
4. The gambler wants to know whether or not the probability of winning with his new strategy is 0.50.
What would you tell him? State your answer in complete sentences.

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